Wilmington, Delaware, United States, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global anticoagulant reversal drugs market is projected to flourish at a CAGR of 11.3% from 2022 to 2031. As per the report published by TMR, a valuation of US$ 2.3 billion is anticipated for the market in 2031. As of 2023, the market for anticoagulant reversal drugs is expected to close at US$ 1.0 billion.
The rising prevalence of cardiovascular diseases, deep vein thrombosis, pulmonary embolism, and atrial fibrillation has led to increased use of anticoagulant medications, such as warfarin, dabigatran, apixaban, and rivaroxaban. This increased use of anticoagulants has created a need for reversal agents to manage bleeding complications, driving the market growth.
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The rise in usage of reversal agents for life-threatening conditions or uncontrolled bleeding is projected to drive the global anticoagulant reversal drugs market size in the near future. An increase in cases of bleeding is anticipated to lead to unmet clinical needs owing to the unavailability of specific reversal agents.
The aging global population is more prone to conditions that require anticoagulant therapy, like atrial fibrillation, the growing aging population will drive the market demand during the forecast period. The rising cases of trauma and surgery patients are likely to drive the demand for anticoagulant reversal agents to manage bleeding complications.
The growth of the healthcare infrastructure in emerging markets and the adoption of anticoagulant therapy and reversal agents are also growing, creating new market opportunities.
Key Takeaways from the Market Study
- As of 2022, the anticoagulant reversal drugs market was valued at US$ 923.2 million.
- Based on product, the vitamin K segment accounted for a major share of the global market due to the increase in consumption of vitamin K for the reversal of warfarin and the comparatively low cost of the drug.
- Based on the distribution channel, the hospital pharmacies segment accounted for the largest global anticoagulant reversal drugs market share in 2021.
Anticoagulant Reversal Drugs Market: Key Trends and Opportunistic Frontiers
- Rise in the usage of anticoagulant drugs during surgical procedures to control excessive bleeding and life-threatening hemorrhage disorders.
- Increasing research & development by pharmaceutical and biotech companies to improve existing anticoagulant reversal agents and develop new ones, boosting the market growth.
- The development of novel and more effective anticoagulant reversal agents, such as andexanet alfa (Andexxa) for factor Xa inhibitors and idarucizumab (Praxbind) for dabigatran, has improved the safety and efficacy of anticoagulant therapy. These advancements have boosted the market.
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Anticoagulant Reversal Drugs Market – Regional Analysis
- North America is expected to dominate the global anticoagulant reversal drugs market during the forecast period. The market in the region is driven by the rise in new product development, approvals, and the launch of anticoagulation reversal drugs in the United States and Canada.
- The anticoagulant reversal drugs market in Europe is anticipated to grow at a moderate pace during the forecast period. Germany is a highly lucrative market for anticoagulant reversal drugs. This can be ascribed to a high prevalence rate of atrial fibrillation, an increase in the geriatric population with age-related bleeding disorders, and a surge in the number of hospital admissions with factor Xa inhibitors in the country.
Competitive Landscape
The global anticoagulant reversal drugs market is consolidated, with the presence of a small number of large companies. Product portfolio expansion and mergers & acquisitions are the key strategies the key players adopt. Transparency Market Research has profiled the following players in its global anticoagulant reversal drugs market report:
- Bausch Health Companies, Inc.
- Pfizer Inc.
- Fresenius Kabi AG
- Amneal Pharmaceuticals, Inc.
- Boehringer Ingelheim GmbH
- CSL Limited
- Octapharma AG
- Portola Pharmaceuticals, Inc.
- Perosphere Pharmaceuticals, Inc.
Key Developments in the Anticoagulant Reversal Drugs Market
- In October 2021, Alveron Pharma BV raised EUR 3.9 Mn to fund the continued development of OKL-1111, a first in class drug to treat anticoagulant-related bleeding.
- In July 2020, VarmX, a renowned biotech company, raised EUR 32 Mn in series B financing to develop an innovative reversal agent for the treatment and prevention of severe bleeding in patients on oral anticoagulants.
- Boehringer Ingelheim is the manufacturer of Pradaxa (dabigatran). The company developed and received FDA approval for idarucizumab (Praxbind), a specific antidote for Pradaxa, providing a solution for reversing the effects of this direct thrombin inhibitor.
Anticoagulant Reversal Drugs Market –Key Segments
Product
- Prothrombin Complex Concentrates
- Vitamin K
- Protamine
- Tranexamic Acid
- Idarucizumab
- AndeXXa
- Others
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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